O'Neill Makes
A Not-So-Hot Impression

J apan's a mess, the Nasdaq looks like London after the blitz and his boss's tax cut hangs in the balance. So what did Treasury Secretary Paul O'Neill do on Feb. 27?

He personally wrote a three-page memo urging President Bush to act quickly on "global climate change." Among other things, Mr. O'Neill vouchsafed that, "As you know, I think this could be a very big problem." The memo recommended that Mr. Bush...